Facebook faces a lawsuit by new shareholders in the social networking company, filed less than a week after its IPO.

The shareholders allege that Facebook misled them by filing untrue statements in legal filings with the S.E.C., failed to prevent such statements from being misleading, and did not properly prepare the documents for prospective shareholders.

The crux of this latest Facebook lawsuit is that the company allegedly failed to disclose that some investors underwriting the IPO had “reduced” their future revenue projections for Facebook because it had been “experiencing a severe and pronounced reduction in revenue growth” because more people were using mobile devices instead of traditional computers to access the social network.

One day after the IPO, the lawsuit contends, news reports began trickling in that Facebook’s lead underwriters at Morgan Stanley, JP Morgan and Goldman Sachs had “all cut their earnings forecasts for the company in the middle of the IPO road show.”

The class action complaint maintains that this information was not disclosed to other investors in documents that Facebook filed with the S.E.C. before the initial public offering.

You can track and see legal filings in the case docket (for free), and read the class-action complaint in the lawsuit below:

Anybody with a brain would have been able to guess that FB was on the way out and that was why Zuckerberg decided to take it public. Get out while the gettin’ was good and he was still able to make money. Meanwhile, he screwed over hundreds, if not thousands, of shareholders. Whether it was intentional or not doesn’t matter. Although, according to the lawsuit, it would seem that the deception was intentional.

Cornell University law professor Sherry Colb discusses the observed phenomenon of mental health clinicians’ empathy varying with the cause of the patient’s disorder, and compares this occurrence with juror empathy.